Work Opportunity Credit (Form 5884) printable pdf download

5884

OMB No. 1545-0219

Form

Work Opportunity Credit

Attachment

Department of the Treasury

Attach to your return.

Sequence No.

Internal Revenue Service

Name(s) shown on return

Identifying number

Part I

Current Year Credit

Enter the total qualified wages paid or incurred during the tax year for services of employees who are

certified as members of a targeted group and who began work for you after September 30, 1996, and

before October 1, 1997

Current year credit. Multiply line 1 by 35% (.35). You must subtract this amount from your deduction

for salaries and wages. (Members of a controlled group, see instructions.)

If you are a—

Then enter total of current year work opportunity credit(s) from—

Work opportunity

a Shareholder

Schedule K-1 (Form 1120S), lines 12d, 12e, or 13

credits from

b Partner

Schedule K-1 (Form 1065), lines 13c, 13d, or 14

flow-through

c Beneficiary

Schedule K-1 (Form 1041), line 13

entities

d Patron

Written statement from cooperative

Total current year work opportunity credit. Add lines 2 and 3. (S corporations, partnerships, estates,

trusts, cooperatives, regulated investment companies, and real estate investment trusts, see

instructions.)

Part II

Tax Liability Limit (See Who Must File Form 3800 to find out if you complete Part II or file Form 3800.)

Regular tax before credits:

Individuals. Enter amount from Form 1040, line 38

Corporations. Enter amount from Form 1120, Schedule J, line 3 (or Form 1120-A, Part I, line 1)

Other filers. Enter regular tax before credits from your return

Credit for child and dependent care expenses (Form 2441, line 10)

Credit for the elderly or the disabled (Schedule R (Form 1040), line 20)

Mortgage interest credit (Form 8396, line 11)

Foreign tax credit (Form 1116, line 32, or Form 1118, Sch. B, line 12)

e Possessions tax credit (Form 5735)

Credit for fuel from a nonconventional source

Qualified electric vehicle credit (Form 8834, line 19)

Add lines 6a through 6g

Net regular tax. Subtract line 6h from line 5

Alternative minimum tax:

Individuals. Enter amount from Form 6251, line 28

Corporations. Enter amount from Form 4626, line 15

Estates and trusts. Enter amount from Form 1041, Schedule I, line 41

Net income tax. Add lines 7 and 8

Tentative minimum tax (see instructions):

Individuals. Enter amount from Form 6251, line 26

Corporations. Enter amount from Form 4626, line 13

Estates and trusts. Enter amount from Form 1041,

Schedule I, line 37

If line 7 is more than $25,000, enter 25% (.25) of the excess (see

instructions)

Enter the greater of line 10 or line 11

Subtract line 12 from line 9. If zero or less, enter -0-

Work opportunity credit allowed for current year. Enter the smaller of line 4 or line 13 here and

on Form 1040, line 42; Form 1120, Schedule J, line 4d; Form 1120-A, Part I, line 2a; Form 1041,

Schedule G, line 2c; or the applicable line of your return

Section references are to the Internal

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Revenue Code.

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4 hr., 18 min.

carry out the Internal Revenue laws of the

or its instructions must be retained as long as

Learning about the law

United States. You are required to give us the

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or the form

42 min.

information. We need it to ensure that you are

administration of any Internal Revenue law.

Preparing and sending

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Generally, tax returns and return information

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48 min.

figure and collect the right amount of tax.

are confidential, as required by section 6103.

5884

Cat. No. 13570D

Form

(1996)

Work Opportunity Credit (Form 5884)

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